Goa is marching towards a debt trap all because of financial mismanagement by the Bharatiya Janata Party government which believes in borrowings to mitigate its failures and which is actually pushing Goans into a debt trap alleged Aam Aadmi Party.
AAP Goa Convener Rahul Mhambre who is a chartered accountant by profession pointed out that the CAG report has very clearly pointed out that the pending revenue collection by some principal departments as on 31st March 2019 was Rs. 2,836 crore of which collection of Rs. 861 crore has been pending for more than five years.
And even though the government is to collect huge amounts of luxury tax from the hotel industry it waived of Rs. 277 crore owed to it by the casino industry. “What is worse is that the government besides waiving off Rs. 277 crore to the casino industry has also permitted casinos to pay their annual recurring fee on monthly basis even though the government is facing a financial crisis,” he said.
He lauded the small business houses in Goa who despite having no support whatsoever from the government worked tirelessly towards making Atma Nirbhar Bharat while the cosy luxury industries did not even pay their luxury tax.
He pointed out that the CAG report has clearly indicated that the government is playing with the funds as it found even the purchase of equipment for Goa Medical Colleges to be done incorrectly as it was done without checks and balances.
“The borrowing of funds to tide over a crisis will result in increase of debt of the State and make all Goans debt ridden,” he said while pointing out that CAG has also noted that there is a heavy loss of revenue from luxury tax.
“What is happening at present due to the heavy spending by the government there is a tax outgo and to cover than up the government is borrowing,” he said disclosing that as on 31st December 2020 the debt of Goa stood at Rs. 18,800 crore.
“This means that as on date every Goan has a debt of Rs. 1.25 lakh on his or her head and in two years they will be crippled when the time comes to reply the debt,” said Rahul.
